A data center developer is seeking $4.54 billion in junk-debt financing for an artificial intelligence project tied to Nvidia Corp ., testing investor appetite after a recent surge in offerings. An entity backed by asset manager Tract Capital Management LP and Fleet Data Centers I LP is selling the five-year notes, a person with direct knowledge of the matter said. Initial price talk is for a yiel...
A data center developer is seeking $4.54 billion in junk-debt financing for an artificial intelligence project tied to Nvidia Corp ., testing investor appetite after a recent surge in offerings. An entity backed by asset manager Tract Capital Management LP and Fleet Data Centers I LP is selling the five-year notes, a person with direct knowledge of the matter said. Initial price talk is for a yield in the high 6% area, the person added, asking not to be identified while disclosing private information. Proceeds from the sale — run by JPMorgan Chase & Co. — will help finance a portion of the construction of a 200-megawatt data center and substation in Storey County, Nevada, and reimburse Fleet Data Centers for prior equity contributions. In February, the developer raised $3.8 billion from a debut junk-bond sale to help finance the project, expected to be leased by Nvidia Corp. The deal attracted $14 billion of orders from investors. That’s the latest in a series of risky debt offerings to help finance computing capacity as the rapid expansion of AI has created an unprecedented shortage of data-center space, graphics-processing unit chips and quick access to electricity to power it all. An investor call will be held 10 a.m. Eastern Time. Firms tied to the buildout have raised more than $22 billion from riskier bonds so far this year, data compiled by Bloomberg show. That includes a record $5.7 billion deal to fund Alphabet Inc.’s Google-linked data centers.
Investors are preparing for the upcoming Federal Reserve policy decision on Wednesday, where interest rates are widely expected to remain steady within the current 3.50%–3.75% range. While the rate decision itself may hold little surprise, market participants are expected to focus intently on commentary from Jerome Powell during his post-meeting press conference. Attention is likely to center on k...
Investors are preparing for the upcoming Federal Reserve policy decision on Wednesday, where interest rates are widely expected to remain steady within the current 3.50%–3.75% range. While the rate decision itself may hold little surprise, market participants are expected to focus intently on commentary from Jerome Powell during his post-meeting press conference. Attention is likely to center on key themes shaping the economic outlook, including oil prices, artificial intelligence, tariff-related pressures, inflation trends, and broader uncertainty. Data from the prediction platform Kalshi suggests traders anticipate these topics will feature prominently in Powell’s remarks. Ultimately, the tone and nuance of Powell’s messaging may prove more influential than the rate decision itself in guiding near-term market sentiment. Listed below is what Kalshi traders expect Powell to say in the upcoming April press conference address: Unchanged — 99% chance. Expectation — 98% chance. Anchor / Anchored — 97% chance. Good Afternoon — 97% chance. Oil — 92% chance. Restrictive — 88% chance. Uncertainty — 88% chance. Layoff — 85% chance. Shock — 84% chance. Gas / Gasoline / Natural Gas — 80% chance. Productivity — 80% chance. AI / Artificial Intelligence — 77% chance. Pandemic — 73% chance. Goods Inflation — 63% chance. Tariff Inflation — 62% chance. Central Bank — 59% chance. Projection — 59% chance. Balance Sheet — 56% chance. Dollar — 54% chance. Softening — 53% chance. Credit — 52% chance. Recession — 40% chance. Median — 35% chance. Replace / Replaces / Replaced / Replacement — 35% chance. Slowdown / Slow Down — 33% chance. Probability — 28% chance. Shutdown / Shut Down — 28% chance. Stagflation — 26% chance. Volatility — 26% chance. Iran — 25% chance. President — 25% chance. Tax — 22% chance. QT / Quantitative Tightening — 20% chance. Dissent — 19% chance. Consumer Confidence — 15% chance. Dot Plot — 13% chance. Pardon — 11% chance. Gold — 10% chance. Yield Curve — 9% chance...
The bitter legal fight between Elon Musk and the leadingAIe firm, OpenAI, led by Sam Altman, may come down to a few pages in one executive’s personal diary. “This is the only chance we have to get out from Elon,” wrote Greg Brockman, OpenAI’s president and a co-founder, in the autumn of 2017. “Is he the ‘glorious leader’ that I would pick?” Brockman’s diary entry is part of the thousands of page...
The bitter legal fight between Elon Musk and the leadingAIe firm, OpenAI, led by Sam Altman, may come down to a few pages in one executive’s personal diary. “This is the only chance we have to get out from Elon,” wrote Greg Brockman, OpenAI’s president and a co-founder, in the autumn of 2017. “Is he the ‘glorious leader’ that I would pick?” Brockman’s diary entry is part of the thousands of pages of internal documents revealed in court since Musk, one of the original co-founders of OpenAI,...
(RTTNews) - Oil and gas major Shell Plc (SHEL, SHEL.L) Monday announced that it has entered into a definitive agreement to acquire Canadian energy company ARC Resources Ltd. (AETUF, ARX.TO) in cash and stock deal with equity value of around $13.6 billion.
(RTTNews) - Oil and gas major Shell Plc (SHEL, SHEL.L) Monday announced that it has entered into a definitive agreement to acquire Canadian energy company ARC Resources Ltd. (AETUF, ARX.TO) in cash and stock deal with equity value of around $13.6 billion.
A cargo ship unloads coal at a port coal terminal in Lianyungang, Jiangsu on April 26, 2026. Photo: VCG The escalating U.S.-Iran conflict is creating an unpredictable geopolitical environment, but global capital markets have seemingly begun to shrug off the volatility. However, beneath the surface of the financial markets, the conflict is sending profound shockwaves through global supply chains. F...
A cargo ship unloads coal at a port coal terminal in Lianyungang, Jiangsu on April 26, 2026. Photo: VCG The escalating U.S.-Iran conflict is creating an unpredictable geopolitical environment, but global capital markets have seemingly begun to shrug off the volatility. However, beneath the surface of the financial markets, the conflict is sending profound shockwaves through global supply chains. For China, this geopolitical crisis acts as a potent asymmetric catalyst, creating distinct winners and losers across its vast industrial landscape.
Alones Creative The ongoing disruptions in the Strait of Hormuz are creating inflationary pressures equivalent to roughly half of what was experienced during the COVID-19 pandemic, according to Adrian Bisserie, CEO of Dukat’s Maritime. Bisserie told CNBC that traders have grown tired of waiting for a resolution to the crisis and are now scrambling to source critical commodities from alternative re...
Alones Creative The ongoing disruptions in the Strait of Hormuz are creating inflationary pressures equivalent to roughly half of what was experienced during the COVID-19 pandemic, according to Adrian Bisserie, CEO of Dukat’s Maritime. Bisserie told CNBC that traders have grown tired of waiting for a resolution to the crisis and are now scrambling to source critical commodities from alternative regions, pushing shipping rates to levels not seen since the post-lockdown period. Supramax shipping rates have surged above $20,000 per day as major grain houses, coal traders, and fertilizer traders have returned to the market after months of holding back shipments in hopes of the strait reopening. “What we have right now is people not seeing any relief, not waiting around for policymaker decisions. They’re having to bite the bullet with high bunker prices and having to perform tripping,” Bisserie said. “This is going to result in persistent inflation.” The crisis is creating ripple effects across multiple commodity sectors, with particular concern around sulfuric acid exports from China. Sulfuric acid, a critical component in copper mining and refining operations, could face export restrictions as China seeks to protect its domestic industries. “Strategically, a player like China would want to keep that sulfuric acid for itself,” Bisserie explained, warning that such a move would leave miners worldwide scrambling for a critical input. Rice prices in Southeast Asia are already climbing, though Bisserie noted this won’t be a repeat of the 2008 supply squeeze given large stocks available in India. However, the persistent price rises pose a challenge for central bankers who were hoping inflation pressures were finally easing. “It’s just one of another input into the cost basket, which means that your interest rates have to be handled differently,” he said. Even if the Strait of Hormuz reopens soon, the damage to market confidence may already be done. Insurance markets are unli...
Exclusive: Mayor raises concerns about using public money to support firms ‘who act contrary to London’s values’ Sadiq Khan may oppose Scotland Yard using Palantir’s AI systems to process criminal intelligence because of his “concerns about using public money to support firms who act contrary to London’s values”. The mayor of London’s office made the statement after the Guardian revealed last week...
Exclusive: Mayor raises concerns about using public money to support firms ‘who act contrary to London’s values’ Sadiq Khan may oppose Scotland Yard using Palantir’s AI systems to process criminal intelligence because of his “concerns about using public money to support firms who act contrary to London’s values”. The mayor of London’s office made the statement after the Guardian revealed last week that Palantir, which works for Donald Trump’s ICE immigration crackdown and Israel’s military, has held talks with the Metropolitan police over a wide-ranging contract that could run into tens of millions of pounds. Continue reading...
Microsoft will no longer have exclusive access to OpenAI's artificial intelligence models and products, a significant change that would allow the startup to sell its technology across rival cloud platforms including Amazon and Google. Shares of Microsoft tumbled nearly 3% after the announcement on Monday, while Alphabet and Amazon gained slightly. Under the reworked partnership, Microsoft...
Microsoft will no longer have exclusive access to OpenAI's artificial intelligence models and products, a significant change that would allow the startup to sell its technology across rival cloud platforms including Amazon and Google. Shares of Microsoft tumbled nearly 3% after the announcement on Monday, while Alphabet and Amazon gained slightly. Under the reworked partnership, Microsoft will remain OpenAI's primary cloud partner and have a license to OpenAI intellectual property through 2032.
Bank of Marin Bancorp ( BMRC ) declares $0.25/share quarterly dividend , in line with previous. Forward yield 3.87% Payable May 14; for shareholders of record May 7; ex-div May 7. See BMRC Dividend Scorecard, Yield Chart, & Dividend Growth. More on Bank of Marin Bancorp Bank of Marin: Strong Underlying Earnings, But Not Cheap Enough For Me Seeking Alpha’s Quant Rating on Bank of Marin Bancorp Hist...
Bank of Marin Bancorp ( BMRC ) declares $0.25/share quarterly dividend , in line with previous. Forward yield 3.87% Payable May 14; for shareholders of record May 7; ex-div May 7. See BMRC Dividend Scorecard, Yield Chart, & Dividend Growth. More on Bank of Marin Bancorp Bank of Marin: Strong Underlying Earnings, But Not Cheap Enough For Me Seeking Alpha’s Quant Rating on Bank of Marin Bancorp Historical earnings data for Bank of Marin Bancorp Dividend scorecard for Bank of Marin Bancorp Financial information for Bank of Marin Bancorp
GDMatt66/iStock Editorial via Getty Images The Sirius XM Holdings Inc. ( SIRI ) investment thesis today seems attractive to me for the following reasons, not necessarily in that order: (1) it is an extremely resilient satellite radio and streaming subscription model with low relative churn and moderate pricing power; (2) a capital return machine with high and predictable cash generation, high divi...
GDMatt66/iStock Editorial via Getty Images The Sirius XM Holdings Inc. ( SIRI ) investment thesis today seems attractive to me for the following reasons, not necessarily in that order: (1) it is an extremely resilient satellite radio and streaming subscription model with low relative churn and moderate pricing power; (2) a capital return machine with high and predictable cash generation, high dividend yield, and meaningful buybacks; (3) it has in-car dominance as an embedded option with OEM integration; and (4) treated as a declining business with conservative valuation multiples. In my article written more than a year ago about the company, I highlighted my bullish stance anchored in the idea that it is a business that fits the investment style of the Oracle of Omaha, Warren Buffett: “The New York City-based company has healthy operating margins and a good track record of generating free cash flow, making the company attractive from a value point of view, providing high returns on its capital-notwithstanding, attracting none other than Warren Buffett's Berkshire Hathaway ( BRK.A ) ( BRK.B ) as its main shareholder.” The most recent headline involving Sirius XM is about a possible purchase of iHeartMedia, Inc. ( IHRT ), still in the preliminary stages, currently valued at $573 million. It also involves the participation of music industry mogul Irving Azoff and Apollo Global Management behind the scenes, potentially facilitating a deal between the parties. As SIRI's thesis today is about FCF growth, stability, and shareholder returns, depending on the terms of the M&A, Sirius XM's capital allocation would likely shift in a less shareholder-friendly direction, and also the risk perception of the company's balance sheet —considering that iHeartMedia has considerable leverage. However, it would offer an interesting addition of cash flows and some growth optionality through synergies that SIRI's thesis currently lacks. In this article, I will seek to go deeper into the d...
Welcome back to Bloomberg’s Auto Monitor , a weekly roundup of stories on the automotive industry from reporters around the world. Sign up now if you’re not already on the list. China’s auto-industry price war likely won’t be ending soon . At least if you’re looking at the latest data from the world’s biggest car market. More in our big story below. We have pieces from the Beijing auto show , incl...
Welcome back to Bloomberg’s Auto Monitor , a weekly roundup of stories on the automotive industry from reporters around the world. Sign up now if you’re not already on the list. China’s auto-industry price war likely won’t be ending soon . At least if you’re looking at the latest data from the world’s biggest car market. More in our big story below. We have pieces from the Beijing auto show , including a look at several new models on display. You can also read about Porsche selling Bugatti and Toyota’s global car sales . Plus: Join Bloomberg for a Live Q&A on what’s next for European carmakers as China upends the auto industry. While anyone can listen, Bloomberg digital subscribers and Terminal clients have exclusive access to ask questions. Tune in on April 28 at 11 a.m. CEST / 5 p.m. HKT. Market Snapshot BYD Co Ltd $106.00 +4.7% Tesla Inc $376.30 +0.7% General Motors Co $78.05 -0.6% Xiaomi Corp $31.80 -1.9% Market data as of 09:07 AM ET. Data is subject to provider delays. The big story If you thought the cut-throat price competition in China is coming to an end, think again. The average reductions for BYD cars accelerated to a record 10% in March, according to China Auto Market data compiled by Bloomberg. Discounts by competitors such as Geely and Chery have also edged higher. It’s a sobering development for the Chinese government, which has repeatedly tried to bring excessive discounting to an end. But automakers in the world’s biggest car market are under so much pressure that it would be almost self-defeating to stop. The market is awash with overcapacity, and the consolidation that has been predicted — and by now is overdue — hasn’t happened. Those who can are looking to relieve the pressure abroad, with BYD and its peers pushing into markets such as Europe, South America, Australia and even Canada. Chery brought nearly two dozen Canadian dealership representatives to the Beijing auto show that runs through May 3. The brand is working to establish a sales net...
Pixelbizz/iStock Editorial via Getty Images ASML ( ASML ) has taken multiple measures to increase the production of its semiconductor manufacturing equipment to prevent any bottlenecks for customers during the breakneck buildout of artificial intelligence infrastructure, according to the Wall Street Journal . In order to increase output of some of the world's most complex machines, the Netherlands...
Pixelbizz/iStock Editorial via Getty Images ASML ( ASML ) has taken multiple measures to increase the production of its semiconductor manufacturing equipment to prevent any bottlenecks for customers during the breakneck buildout of artificial intelligence infrastructure, according to the Wall Street Journal . In order to increase output of some of the world's most complex machines, the Netherlands-based company is building new facilities, repurposing existing clean rooms, hiring more engineers, reducing some leadership roles to increase decision-making, and building new machines capable of higher chip output, the report said. The company has ratcheted up production of its standard extreme ultraviolet machines in 2026, with plans to build even more in 2027. Over the past five years, ASML has produced an average of 44.2 of its standard EUV chip-making machines, according to company data. The company expects to produce at least 60 in 2026 and at least 80 in 2027. ASML is also building a new, advanced series of EUV machines that the company said can make 10 more wafers per hour than its older models. These are estimated to cost about $400M each. Taiwan Semiconductor Manufacturing ( TSM ) is reportedly delaying the purchase of these new machines until 2029 due to the higher cost. However, analysts said this should not have much effect on ASML due to the overwhelming demand for its machinery. Earlier this month, ASML increased its 2026 full-year sales forecast to range from $42B to $47B. Its revenue was $38.13B in 2025. More on ASML Holding ASML: Strong Play On The AI Boom ASML Holding N.V. (ASML) Shareholder/Analyst Call - Slideshow ASML: Why I'm Not Buying Here Taiwan Semiconductor holding off on ASML's new EUV machines might boost margins: analysts TSMC debuts new A13, N2U chip manufacturing technology
Sierra Bancorp (BSRR) delivered earnings and revenue surprises of +17.07% and -2.66%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?
Sierra Bancorp (BSRR) delivered earnings and revenue surprises of +17.07% and -2.66%, respectively, for the quarter ended March 2026. Do the numbers hold clues to what lies ahead for the stock?